Forvis Mazars Wealth Advisors LLC Sells 10,751 Shares of NVIDIA Co. (NASDAQ:NVDA)

Forvis Mazars Wealth Advisors LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 307,075 shares of the computer hardware maker’s stock after selling 10,751 shares during the quarter. NVIDIA comprises 1.0% of Forvis Mazars Wealth Advisors LLC’s portfolio, making the stock its 21st biggest holding. Forvis Mazars Wealth Advisors LLC’s holdings in NVIDIA were worth $41,237,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA during the fourth quarter worth $34,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA in the fourth quarter worth about $40,000. DHJJ Financial Advisors Ltd. raised its holdings in NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the last quarter. Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the 4th quarter worth about $46,000. Finally, 1620 Investment Advisors Inc. lifted its position in NVIDIA by 145.9% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after purchasing an additional 248 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVDA. Rosenblatt Securities reissued a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Bank of America reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Morgan Stanley set a $162.00 target price on NVIDIA and gave the company an “overweight” rating in a research note on Wednesday, March 19th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, February 20th. Finally, Mizuho cut their price target on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Price Performance

Shares of NVDA opened at $109.67 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $125.01 and its 200 day simple moving average is $131.50. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $195.95. The company has a market cap of $2.68 trillion, a price-to-earnings ratio of 43.16, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s payout ratio is 1.36%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 183,609 shares of company stock worth $22,642,615. 4.23% of the stock is owned by company insiders.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.